Mid Penn Bancorp, Inc. Announces Pricing of Public Offering of Common Stock

MILLERSBURG, Pa., April 29, 2021 (GLOBE NEWSWIRE) -- Mid Penn Bancorp, Inc. (“Mid Penn” or the “Company”) (NASDAQ: MPB), the parent company of Mid Penn Bank, announced today the pricing of its previously announced public offering of 2,600,000 shares of common stock at $25.00 per share for gross proceeds of $65 million. After deducting the underwriting discount and other estimated offering expenses, the Company expects to receive net proceeds of approximately $61 million. The Company expects to close the sale of the shares of common stock on or about May 4, 2021, subject to customary closing conditions. Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers. The underwriters will have a 30-day option to purchase up to an additional 390,000 shares of common stock from the Company.

The Company intends to use the net proceeds of the offering to increase its capital structure, support the continued growth of its franchise and for other general corporate purposes. The Company may use a portion of the net proceeds for future acquisitions, although the Company has no present commitments or agreements to do so.

The Company has filed a shelf registration statement (including a prospectus) (File No. 333-233146), which was effective on August 16, 2019, and a preliminary prospectus supplement with the Securities and Exchange Commission (“SEC”), for the offering to which this communication relates. The sale of shares of common stock in the underwritten offering is being made solely pursuant to such prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Piper Sandler & Co., 1251 Avenue of the Americas, 6^th Floor, New York, New York 10020, or by phone at 1-866-805-4128 or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691.